You trusted your bank to do the right by you. But they took
advantage and mis-sold you an insurance policy that you were
unlikely to be able to claim on. The time has come to claim your
money back but you must do so before the PPI deadline August 2019.
But what was the problem with PPI?

PPI was not a fantastic insurance policy

It was a poor example of an insurance policy too. It was
expensive and poor value for money. People paid large monthly
premiums for a policy that just about covered the basics - but only
if you were in the minority group that was covered by this
policy.

Seek compensation, seek justice

You may think this 'good news story' belongs to everyone
else.

Some people have claimed thousands of pounds back in PPI
compensation. We also know of some people who have received a few
hundred pounds.

In many ways, the size of your compensation payout is second to
the fact that you are seeking justice by sending a clear message to
the banking industry (and others!) that poor selling practices will
not be tolerated. And in the end, it will always cost them
dearly.

Average PPI pay-out

The average payment calculated by dividing the value of all the
PPI policies sold by the number of customers affected gives an
average compensation total of £2,750 per person.

But as we've already seen, you may get much more than this, or
you may get less.

Putting you back to the financial position you would have been
in

Compensation is something that many people seek for all kinds of
reasons.

The idea behind a compensation claim is that any settlement
offered should be fair and put you back to the financial position
you would have been in had you not been sold PPI.

This means that included in the settlement should be the
premiums you made to the bank or lender each month, any additional
fees or costs that may have been incurred by the addition of PPI to
your account and interest at a rate of 8%.

Now, do you see the value of making a claim for mis-sold
PPI?

Do you have a claim?

You may be unsure if you have a claim for PPI compensation. Our
team will be happy to help. Call us now for an informal discussion
and, if you have a claim, what the next steps with PPI Scotland
will be.

Call Payment Protection Scotland to find out more NOW and enjoy
a fruitful 2019!

Mis-sold on a huge scale, payment protection insurance (PPI)
compensation has been claimed by a large chunk of the
population.

But with 60% of people with eligible claims yet to claim their
money back and with the August 2019 PPI deadline looming, we
thought we would look at the five most asked questions about PPI
and the whole mis-selling saga.

1. HOW were banks mis-selling PPI?

In most cases, banks and lenders did not fully explain the
policy to customers.

For example, they did not tell customers that if they were
self-employed, that their claim on the policy was unlikely to be
successful unless they closed their businesses down.

Customers were also given the impression that, without PPI,
their application was unlikely to be approved. There are cases
where PPI was added at a later date and you were simply informed
what a great product it was - and not that it was possibly
unsuitable.

2. WHY do some reports suggest that the culture of the banking
industry at the time lent itself to the mis-selling of PPI?

PPI was a product that the bank liked because, for each PPI
policy sold, banks, lenders and brokers made a profit.

Employees who sold policies - either face to face or over the
phone - were also making a commission. in fact, it is now generally
accepted that commission rates were way above salary rates.

These two factors combined, as well as lack of a regulator with
teeth, presented unfettered opportunity to mis-sell PPI.

3. HOW do I make a claim?

You can contact your bank or lender direct and tell them that
you believe you were mis-sold PPI. This can be done via letter.
Bear in mind that you need to prove you were mid-sold the
policy.

Or, you can get help to a make a claim. We charge a fee for this
service, a % figure of the final PPI compensation you successfully
claim back.

We are professional and passionate in their dealings with
claiming back PPI compensation on your behalf. We do all the hard
work, leaving you free to enjoy your compensation when it
arrives.

4. WHY has my bank written to be me about PPI?

Back in 2013, banks and lenders were told that they must inform
customers that they may have been mis-sold PPI and that they can
make a claim. Some banks and lenders sent forms with these letters,
inviting you to complete and make a claim.

Ignoring this letter could mean that you have missed out of PPI
compensation! If you think you received such a letter, contact us
NOW!

5. WHAT is the time limit?

There is a 6-year 'rule'. This means the account needs to have
been active within the last 6 years BUT, the Financial Conduct
Authority has been clear that anyone with a PPI policy that was
mis-sold to them is entitled to make a claim.

Claiming PPI compensation you are rightfully owed is, in most
cases, simple and straightforward. The paperwork is all present,
PPI is clearly marked and the reasons for mis-selling are also
clear.

These customers, within weeks, will have a PPI compensation
settlement. They can take the holiday they have not been able to
afford or maybe pay-off some debts, invest in some stocks and
shares or simply enjoy their bank account being back in the
black.

But, for other customers, the journey is not so smooth…

I have no paperwork and the August 2019 PPI deadline is
looming. Does that mean I'll miss out?

On one hand, you want to make a claim for PPI compensation but
on the other, you need to be 100% confident you have a PPI policy,
not easy when you don't have the paperwork.

It can be tempting to put a claim in, without really knowing but
you can find out. You can ask your bank or lender for more
information - read on to find out how.

How PPI can be 'tested'?

If there is no paperwork, the following courses of action can be
taken:

Contact your bank or lender asking for a copy of the original
documentation, along with any additional paperwork. You can also
ask them if there is PPI on any of your accounts and they should
tell you. We can do this for you but we will need written
permission from you, as we do to continue with your claim. Banks,
lenders and financial institutions have been told that they must no
longer charge customers for this service.

If this fails, for a small fee, you can join an online credit
reference agency. When you take out a loan etc. there is a credit
search made with these agencies and a score applied to you. This
way, banks and lenders know how much of a risk they are taking.
Paperwork, or copies of it, is sometimes lodged with these agencies
and may be available.

What happens if I am in debt? Will I get my PPI
settlement?

If you have significant debt with a bank or other lender,
claiming back PPI compensation could see you wipe out any debt and
still be left with a lump sum. If you are due PPI compensation, the
bank or lender may apply it against your debt, although this is
unlikely. After all, this is your money. But, if you have an IVA,
the situation is different. Contact our team for advice.

If they say no to PPI compensation, is that it?

Many people think that if the bank or lender refutes their claim
for PPI compensation, there is nothing more to be done. You
can refer your case to the Financial Ombudsman - or we can do so on
your behalf - and they will make the final decision.

With the August 2019 PPI deadline only months away, isn't it
time you made your PPI compensation claim?

When the mis-selling of payment protection insurance (PPI) began
back in the mid-1990s, banks and lenders thought it was a 'storm in
a teacup'.

It was some years, of course, before the first PPI compensation
claims began to be made - January 2011, in fact - but just when you
think the PPI scandal is fading to obscurity, up it pops again.

How the story started

Customers were becoming disgruntled paying for a product that
they knew would not cover them should they attempt to make a claim
on it.

Customers also did not like paying for something that made their
loan or other credit product so much more expensive.

Other customers did not know they had PPI and herein lay the
problem. Once the story broke and customers were advised to start
making claims as the likelihood was they had been mis-sold the
product, the claims started to trickle in.

Politicians were unhappy to that banks could seem to do what
they want, with no one to hold them to account.

The banks persisted in burying their heads in the sand

Many banks and lenders knew that they held the balance of power
but with increasing pressure and threats of further legal action,
they slowly and somewhat reluctantly began to pay the money
back.

Or, more accurately, they made offers of settlements to
customers. In the very early days, people were offered derisory
amounts of PPI compensation.

Something changed

The banks no longer held the balance of power. With backing from
regulators and consumer organisations, along with the informative
power of the internet, the savvy consumer realised that they could
claim back ALL their money.

But the banks were not coming quietly and forced the whole
process to another judicial review. The odds were stacked against
them. After hushed conversations behind closed doors, the banks
gave in.

The huge flow of money FROM the banks TO the customer in the
form of PPI compensation started.

There have been fantastic stories of ordinary people, cheated by
banks, receiving huge amounts of compensation monies. People can
pay off debts and afford the luxuries in life.

This could be you. But with a deadline looming, you need to make
your claim sooner rather than later and don't wait for midnight on
29th August 2019 - as soon as the clock ticks past
midnight, you can wave goodbye to submitting your claim.

Payment Protection Scotland is here for you

With sensitivity, confidentiality and empathy, we will
take your case to its logical and successful conclusion. Call us
today to find out how.

The compensation process for mis-sold payment protection
insurance (PPI) began in earnest back in January 2011. With £32.9
billion already repaid to customers, there are more claims to come
- 2019 will be the year that the PPI debacle draws to a close. Will
you be left out in the cold?

But, as a consumer, you may be wondering what has changed to
stop something like this happening again.

There have been changes, some of which are specific to the sale
of PPI and others that inform good practice across banks and
lenders in general.

1. Separate sales

One of the biggest issues with PPI was that it was sold at the
same time as the main product, such as a loan. Banks and lenders
did, to a certain extent, play on the emotions of their customer,
selling them an additional product at a time when they would agree
to it because they thought it was important to their loan
application.

2. Changes in 'advised sales'

People also thought that when a bank or lender suggested PPI
they were in fact, advising them to buy it. Banks argue this was
not the case but customers all over the country beg to differ. And
so do we! This is why the Financial Conduct Authority has changed a
rule: if a bank is advising a customer to buy a product, they need
to tell them why in writing.

3. Make terms of sales clearer

Banks and lenders should no longer be offering additional
products alongside loans etc.at the time of sale.They should leave
a gap of at least 7 days before they offer you an insurance product
and make it clear that not buying the product will not affect their
application for credit.

4. 'Opt-in' online

Another common issue was that when people bought credit cards or
applied for loans online, the 'do you want PPI?' box was already
ticked. Unless you scrolled to the end of the terms and conditions,
you would have failed to see this. You also wouldn't get a chance
to examine whether this was worth paying for. In other words, you
could be paying for an insurance product that did not cover
you.

5. PPI is no longer sold

In most cases, PPI has died a natural death as a result of the
mis-selling scandal. There are other similar products, such as
income protection insurance, that are far superior products and
worth the money.

If you have PPI, you could have a claim for compensation. Why
not call us now for a no obligation chat?

I've heard stories of people waiting months to for their PPI
compensation to be paid and how stressful they found the whole
process.

And when they did get their money, it was a lot less than the
average of £2,750 that was promised on the text they received from
an official PPI claim company.

And then the company took a big slice of it too! I don't think
I'll bother claiming PPI compensation. It doesn't seem worth
it.

There are many stories of people trying and failing to claim PPI
compensation. There are also stories of people being landed with an
unexpectedly large bill from the claim management company who
helped claim their money back.

We guarantee this won't happen with Payment Protection Scotland.
And this is why;

We don't make promises we can't keep

We always make sure that any advertising we do is correct and
truthful. The presence of PPI is, on its own, not enough to secure
compensation. This is why we always say we need to talk to you, and
asses you claim against various criteria that point to success. We
believe this is one of the reasons why we have such a success
rate.

We are transparent about our fee

Unlike some other claim management companies, we have always
been clear on what our free structure is. We charge a flat fee
meaning that if your claim for PPI compensation turns out to be
complex, you won't have a bigger bill.

We change our fees from time to time, so call our expert team
today to ask about our current fee and how to pay it.

We operate on a no win, no fee basis

No win, no fee means exactly that: if we don't win your case,
you don't have to pay us for our time nor resources.

There is no need to make payments on account nor pay us any
money up front. We take on the financial risk of your case so you
don't have to. You only pay when your claim for PPI compensation is
successful.

We have a rigorous assessment process conducted by expert,
knowledgeable staff

It sounds scary 'rigorous assessment' but what we mean is this -
our expert staff will talk you through a series of questions. By
answering these to the best of your ability, we can be clear about
not only whether you have a claim, but how much PPI compensation
you could be entitled to.

The figures are astounding and eye-watering. And the extent and
magnitude of the PPI compensation saga shows just how much money
banks and lender were profiting from the sale of the policies.

And don't forget, that banks staff and representatives, on
selling a PPI policy to a customer, also received a handsome reward
in the shape of commission.

If you knew that in every monthly premium you paid, a large
share was being paid to the bank, would you have queried the cost
of the policy?

You probably would have done and along with thousands of other
customers, you are now attempting to claim every penny of your
money back.

But, let's take a look at the figures so far.

October 2018 - this is the latest month that is listed on the
Financial Conduct Authority (FCA) website. During this month, 23
banks and lenders in the UK who make up 95% of PPI sales reimbursed
their customers to the tune of£353.4 million.

The total so far (January 2011 to October 2018) - stands at a
whopping£33.3 billionand will keep on rising and rising until the
PPI deadline of August 2019 rolls around.

Who would have thought, that PPI compensation would reach
millions and billions of pounds? Isn't it time you claimed your
share?

How to claim your share of PPI compensation

Step 1 - Find evidence of PPI

Examine every account on which your borrowed money, from credit
cards to loans, to car finance to store cards. PPI may be listed as
a separate payment or it may be included in the monthly premium you
paid. Look hard and look again!

Step 2 - Call Payment Protection Scotland

Call for a no obligation chat with a member of our expert team.
They will give you more detailed information about the PPI
compensation claiming process and how we can help you.

If you decide to go ahead with your claim through us, we will
perform a quick, but thorough assessment on your claim, making sure
we have all the information we need to go ahead and claim your
money back.

You will also need to sign a few forms, giving us permission to
act on your behalf.

Step 3 - Leave us to do all the hard work

We write a letter of complaint to your bank or lender, detailing
your claim and why you are entitled to your money back. We also
check any offers of PPI compensation against our figures and what
the bank offers you.

Don't forget, you could have more than one PPI compensation
claim as PPI was added to many, many accounts!

Step 4 - Enjoy your PPI windfall!

You'll have heard the Financial Conduct Authority (FCA) bowed to
pressure and introduced a deadline for PPI compensation claims.
What does it mean?

The FCA up until 2017 or thereabouts, has always been quite
clear that a PPI deadline was not on the cards. The banks had asked
and pressured for a deadline on several occasions previously, but
had always been decisively and sharply rebuffed.

Dragging on and on

The first PPI compensation payments were made in January 2011
and now, several years and £33 billion later, the FCA has decided
that a deadline was needed to draw a line under the whole
unfortunate and embarrassing episode.

A change at the top

Some commentators note that this conciliatory tone within the
FCA has come about since a change in the head of the FCA. Outgoing
head Martin Wheatley was stringent in his dislike for a PPI
deadline and even less impressed by the banks calling for an end to
the mess that they had effectively created.

The new head of the FCA appointed a year in January 2016, Andrew
Bailey seems to have a less rambunctious tone toward the British
banks and lenders.

Chaotic and deep

There are times when you could describe the PPI compensation
process as chaotic.

Back in 2011, the banks made derisory offers of a few hundred
pounds to customers who were owed thousands.

Then banks were suggesting that they didn't hold the information
to give customers the details they needed to lodge a PPI
complaint.

Customers were also having perfectly reasonable and obvious PPI
compensation claims turned down thus, resources at the Financial
Ombudsman were being swallowed by thousands of PPI compensation
cases every month that should have quickly and easily resolved by
the banks in the first place.

Then, it became clear that bank staff who sold PPI has made
large commissions on sales of PPI something the Supreme Court ruled
was unfair.

The PPI saga has also run into billions, with the current total
standing at more than twice the budget for the Summer Olympic Games
in London, back in 2012.

It is a deeper chasm of embarrassment than anyone could possibly
imagine back in the mid-1990s when the sale of PPI was referred to
the now-defunct Competition Commission.

The deadline stands

The deadline is confirmed and in place for August 2019. If you
don't claim PPI compensation before this date, it will be too late.
Call us now - we can help.

It is now an infamous saga, one that
has forced changes in the British banking industry. Since January
2011, consumers have had the chance to claim back their money after
being mis-sold payment protection insurance (PPI).

With the PPI August 2019 deadline signalling the end of the PPI
mis-selling saga, you may be thinking of claiming back your
money.

If this is the case, you will need to tell the bank why you
think the insurance policy was mis-sold to you in the first
place.

With up to 70% of customers being sold a policy they didn't
need, you could on the brink of claiming back a substantial PPI
windfall.

#1 You were unaware you bought PPI or did not agree to buy
PPI

We find that many of our customers were unaware that they had a
PPI policy. Many customers also had NOT agreed to the policy,
mainly as it added significant cost to the loan or because they did
not need it. On examining their paperwork, however, they found that
a PPI policy had been added to their loan! If the reason for
mis-selling detailed in your letter of complaint to your lender is
you were either unaware or did not agree, then the onus falls on
the lender to provide proof of your agreement.

#2 They bought a 'fully protected' loan

Some customers purchased a 'fully protected' loan, only to find
that this included a form of PPI. Whilst this may not be an issue
in some cases, the terms and conditions of the PPI were not fully
explained meaning that the possibility of youNOTbeing covered by
the PPI policy is high.

#3 You were given the impression or told buying PPI was
compulsory

Other customers were told that the PPI policy was compulsory.
The terms and conditions of the loan may state that some form of
payment protection insurance is compulsory - this in itself is not
the problem but you may have been given the impression that the
only product that was suitable was their own PPI policy. If this
happened to you, you may have a compensation claim.

#4 Parts or all of the application form was pre-filled with
details

Many lenders and banks pre-filled application for their
customers and whilst this may seem helpful, look professional, neat
and tidy, the likelihood is that many of the 'tick boxes' of
optional items such as PPI, were already ticked. In other words,
unless you noticed this or it was drawn to your attention, you
would not have opted out. This is not fair selling.

#5 Online or over-the-phone applications

Although the lender could say everything was in the terms and
conditions, the long reams of small print are not something that is
comfortable to read. In other words, the bank needed to draw things
to your attention and that may not have happened.

We can help you claim your money back and we can start working
on your case today - call us now!

Costs for some banks in the thick of the PPI scandal - such as
the biggest bank, Lloyds Banking Group - are spiralling and not
just in terms of how much compensation they are paying out. The
internal wage bill for banks and lenders of staff dealing with PPI
claims is ever growing, with many banks also relying on agency
staff too. And with the August 2019 PPI deadline looming, if the
expected avalanche of PPI claims happens, this wage bill could
significantly increase.

How much time per case?

Even straightforward cases suck time and resources. For
example;

A straightforward PPI claim from a customer was that she was
covered by her employer's sick pay policy, therefore, didn't need
the PPI on her loan. A quick check on the status of this sick pay
meant that this was indeed the case and her PPI compensation claim
was upheld - in other words, she is entitled to receive PPI
compensation.

This process alone took over several hours to conclude, and now
the bank representative needs to work out how much PPI compensation
she is entitled to receive.

More complex case take many more hours to resolve and this is
before any compensation calculations are made.

PPI Resources

Look at the investments banks in the UK have to make in order to
process PPI compensation claims (2012/3 figures, therefore, these
will have changed):

Barclays employed 3,400 staff across 10 centres, 8 of which are
in Britain and 2 in India, to process PPI claims. Their
compensation bill at the time was £12billion and growing, a figure
that seems set to rise as an estimated 34 million policies were
sold since 2001 across the banks.

By January 2013, Barclays employed 600 people in a centre in
south England, working two shift patterns from 7 am to 11 pm.

Barclays are not the only bank gearing up to meet the deluge of
PPI compensation claims - Lloyds Banking Group had 6,000 staff
working on claims, HSBC has 600 with the Royal Bank of Scotland
have 1,800 staff working through PPI compensation claims.

Make a claim today

Some customers prefer to make their claim through a claims
management company (CMC). As a reputable CMC, our terms and
conditions are transparent and easy to understand - all you need to
do is call us and let's talks about making a claim for PPI
compensation on your behalf.

All you need to do should you decide to use Payment Protection
Scotland for your compensation claim is complete a few simple forms
- and then sit back and relax and let us do the hard work.